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Geron (GERN) Appoints CEO and Director

The BOD has appointed John A. Scarlett, MD as its CEO and to its BOD.

 

Biotechnology Industry Veteran brings Extensive Track Record of Drug Development and Commercialization Success

The Bottom Line: GERN is excited to have him lead the continued transformation towards significant value creation for its stockholders. Dr. Scarlett brings over 25 years of executive leadership experience in the pharmaceutical and biotechnology industry. Most recently, he served as President and CEO of Proteolix, a biotechnology company developing proteasome inhibitors for oncology and immunology applications. Proteolix was acquired by Onyx Pharmaceuticals in November 2009. Dr. Scarlett was also a founder and CEO at Tercica, a publicly traded biotechnology company, where he led the company through the acquisition, approval and commercialization of two novel endocrine products, key partnerships with Genentech and Ipsen S.A., and multiple financing rounds including its IPO in 2004 and subsequent follow-on equity offerings. Tercica was acquired by Ipsen in October 2008. Prior to Tercica, Dr. Scarlett founded and served as CEO of Sensus Drug Development Corporation, which he led through the acquisition, development and approval of a novel endocrine product and the sale of the company to Pharmacia in 2001. He also co-founded Covance Biotechnology Services, Inc., a 450-person contract biologics manufacturing and process development business, which was sold to Akzo Nobel’s Diosynth Division in 2001. Earlier in his career, Dr. Scarlett served as Head of the North American Clinical Development Organization and Senior Vice President of Medical and Scientific Affairs at Novo Nordisk Pharmaceuticals, Inc. and held several positions, including Director of Medical Research and Services, at McNeil Pharmaceuticals, a wholly-owned subsidiary of Johnson & Johnson. Mr. David Greenwood, who has served as interim CEO, President and CFO of Geron since 2/11, will remain in his role as President and CFO during a transition period to continue through the end of this year, reporting to Dr. Scarlett. In connection with the transition, Mr. Greenwood has resigned from the BOD.

 

Geron had appreciated $0.07 <3.25%> to $2.23 by mid-day.